Sadly I think you're right on the money Steven, or rather the lack of it; but particularly the commercialization of our better Ideas.
Which along with our smarter people, are moving offshore.
And followed by us importing the products of these better ideas from other countries, which then reap all the inevitable economic benefits.
If we would reverse any of this, we need to get right on top of commercializing our better ideas and right here.
As a first absolutely essential step, I'd want a radical change, and a policy of investing in our own people and their better ideas, as a first order priority.
And that has to mean picking winners; and a government getting back into the business of business!
That can be enhanced by the wholesale roll-out of government owned and operated thorium energy connected to micro-grids; and in so doing, literally halve the currently best possible energy cost component of manufacture in this country.
Which for high tech manufacture, more than 70% of the production costs!?
I'd want to follow that with a complete makeover of the tax system, replacing all the current mind numbing convoluted complexity; inclusive of the GST and fuel excise, with a single stand alone expenditure tax; coupled to, an extensive complete tax holiday (3-5 years) for brand new start up manufacturing business models.
And further assist that with the rapid roll-out of the off budget NBN, and very rapid rail. Build it and they will come!
A magnetron system, linked to very fast roll on roll off ferries, would get our products into Asia, by the most cost effective means; and in direct competition with slower, less capable air freight!
Singapore would be an ideal place to locate a sister roll on roll off fast ferry terminal, linked to other rail services, but particularly very fast ones!
I prefer Lee Kwan Yu's patent pragmatism, and leading by successful example after example!
And all very doable, if we but take a leaf out of that extremely successful book!
That means, both self limiting ideology and official timidity must be entirely erased!
Rhrosty.

The subtitle is:

>>At any rate, more than half of R & D expenditure in Australia seems to come from business.>>

I want to emphasise that this is very low compared to the top ranking medium size countries, specifically Canada, Israel, South Korea and Taiwan. In these countries business accounts for a much higher proportion of R & D expenditure.

Private R&D would be a lot higher, much which is research is "Just Done" without song & dance, whereas much of the Government is such as "Gender Roles of the Garden Snail and Its meaning in Post Colonialist Society".

McCackie

>>Private R&D would be a lot higher, much which is research is "Just Done" without song & dance, whereas much of the Government is such as "Gender Roles of the Garden Snail and Its meaning in Post Colonialist Society".>>

You have an incorrect notion of where the bulk of governments' R&D funding goes. Perhaps you'd like to do some research before commenting.

What the hell else would you expect when most taxpayer research funding is thrown at global warming & other such tripe.

The rest appears to be thrown at tenured professors so they can spend their days playing tiddlywinks, rather than do something useful like actually teaching.

You are so right McCackie. We did quite a lot of applied research, which was put to use immediately. When I looked at getting some tax deductibility for the cost involved, it would have cost so much in consultant experts, & our time, to get through the paperwork maze, we didn't bother.

It was even worse than that ridiculous Quality Assurance farce we had to go through to be able to supply government with the stuff they had been buying for years. Hundreds of hours, thousands of bits of paper, & a queens ransom to "consultants", & not a damn thing applied to production, from the entire effort.

Bet heaps of academics & bureaucrats were kept in make work with it.

You know, life was much better when I was too damn busy to have time to see just how badly the country is governed. Ignorance really is bliss.